MILAN, Nov 21 (Reuters) - U.S. fund Cerberus Capital Management is among potential investors interested in Italian bank Creval's turnaround plan but it is too early to say whether it will also commit to buying into the lender's planned share issue, a source close to the matter said.
The mid-sized Italian lender said earlier this month it would sell new shares for up to 700 million euros in early 2018 to fund a balance-sheet clean up under its new business plan.
"There has been an expression of interest from Cerberus and other investors for Creval's plan. Since the share issue will only be launched in February, it's difficult to have any commitments now," the source said.
"(But) there is interest from investors and also from banks willing to join the underwriting consortium."
Il Messaggero daily said on Tuesday that Cerberus was planning to buy into the cash call for around 100 million euros. Cerberus could not immediately be reached for comment.
A second source added that an ongoing roadshow, held in London, Paris and the United States, to promote the restructuring plan had met with interest.
Creval's share were up 15 percent on Tuesday, helped by reports of investor interest but also lifted by optimism about a 560 million euro share issue at rival Banca Carige which is expected to kick off on Wednesday.
Reporting by Gianluca Semeraro and Andrea Mandala, writing by Agnieszka Flak; editing by Silvia Aloisi